Avoid These Common Mistakes In Trust Fund Accounting

Trust Accounting is a relatively simple accounting process. Unlike most accounting needs there isn’t any profit or loss to track. There is no depreciation or amortization to deal with. You don’t need to calculate interest accumulation. There is no tax accounting required, and you don’t have to calculate account management or banking fees. How, then, […]

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The Basics Of Trust Accounting

It’s not at all unusual for attorneys to handle client trust accounts. Nearly every lawyer at some point or another will hold client funds. The three most common scenarios in which an attorney will be responsible for a trust account are: For funds received at the start of representation, In connection with payment from a […]

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Tips For Improving Your Law Practice Cash Flow: Evergreen Retainer

Over my next few blogs I want to explore methods I’ve seen successful law firms use to maintain a positive cash flow. Since a healthy cash flow means a healthy business, it’s imperative that you find a way to ensure future income. The most common way I’ve seen attorneys secure a reliable future cash flow […]

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